Japan maintains expectations of returning to budget surpluses in the long run

Japan holds the largest public debt in terms of GDP in the world, with 223%, a situation that places the country particularly under pressure and vulnerable to the uncertainty caused by the Covid-19 pandemic.

Japan maintained this Thursday the forecast of a return to budgetary surpluses in the long term, as reported by Reuters, this despite the strong impact of the crisis of the new coronavirus in the country, which registers unmatched levels of public debt in the group of most economies industrialized countries in the world.

In its half-yearly economic and budgetary forecasts, the Japan Office, the country's executive body, reaffirmed the expectation of returning to surpluses, although it postponed this result to 2029. In the last assessment, made in July, the goal was set for 2027.

Japan is in a delicate situation given the high levels of public debt, which reached 223% of GDP in September 2020, which substantially exacerbates the uncertainty associated with Covid-19's economic impacts. Despite this, the Japanese Economy Minister expressed confidence in the recovery and openness to a fiscal reform, something that had already been considered, given the stimulus package and the need to issue more subsequent debt.

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